Documenting my Cobra search

[Large Arbor]

Ok, I get now what you are saying and agree on that. I shopped Cobra Country for some time. I think as people move away from originality it hurts pricing as well. SPFs, ERAs, and Kirkhams, all seem to hold pricing well.

They do seem to move around in value, but getting ERA's in the low $50's seem to be bargains if they are in decent shape.

Paint - While expensive, would not be the most expensive item on mine. The engine would win that category

Yes, I also agree they are flippable with some cleanup. Most folks don't realize what they have and what it takes to replace it.

Phil

[patrickt]

Originally Posted by Large Arbor

I think as people move away from originality it hurts pricing as well. SPFs, ERAs, and Kirkhams, all seem to hold pricing well.

They do seem to move around in value, but getting ERA's in the low $50's seem to be bargains if they are in decent shape.

Well, I somehow missed his price cap post. But, regardless, what I really don't like is that the "quality Cobra replica" hobby is fast becoming only a rich man's game. I still think of my car as just one step above the Datsun 2000 Roadster I had in high school, and later sold for the "killer" prices of $2500, even though it was held together with duct tape and coat hanger wire. I believe the Cobra replica game is just a rat rod type of hobby, and I don't like seeing used replicas, regardless of the manufacturer, all start nudging that six figure mark. I think it hurts everybody.

[YerDugliness]

Originally Posted by Large Arbor

Paint - While expensive, would not be the most expensive item on mine. The engine would win that category
Phil

Agreed, Phil. Most who are new to the search for a Cobra do not realize the importance of an "accurate" engine.

GT11, in that respect I would suggest that you add an issue to your "must have" list...the engine really SHOULD be an FE. As you well know, there were two different body styles (not counting the Daytona Cobras.....have you considered one of those?), the "289" body style and the "427" body style. From the items in which you have expressed interest, it appears you are in the market for one of the 427 body style replicas.

So...and this is coming from someone with a 427 body that has a small block in it...if you want to be able to sell at some point (and, having gone through 50 cars in your life, IMHO that possibility is pretty high), you will have MUCH better luck not only getting the car sold but also getting the $$ you want for it if it is equipped with an FE engine.

I bought mine with a small block because I was not interested in brute force and originality as much as drivability, reliability, and handling. I am happy with all of those issues in what I have; what I am NOT happy with is the body style. I've always been a fan of the "289 FIA" model and if I were going to build one for myself I'd definitely go for that.

There are those on this forum for whom only an FE engine is acceptable. Perhaps they are just purists, or perhaps they know that having an FE engine in a 427 body style exponentially increases the chances of getting their asking price.

You seem like a "well-seasoned", performance oriented buyer with a good grasp on what you want. I ask this with all sincerity...have you driven a Cobra much? I'll never forget the first time mine swapped ends on me...it was totally unexpected and resulted in the need for a new rear bumper. They do not drive like any performance car I have ever owned; perhaps after you've driven one (you said you had seat time in the plans) you'll have a better idea about what it is you want.

At any rate...IMHO...the 427 body style seems to be the most popular and if you have an FE engine in that body style the "originality" aspect adds to the chances you can sell at your asking price when (not "IF", as you even admit to having gone through 50 cars so far) you want to sell it.

Just beware that the 427, while a "thin-wall casting" engine, is physically large, heavy (which makes for a front-heavy car when you put one into a lightweight, short wheelbase car like the Cobra, with predictable effects on handling), and rather finicky about maintenance (they seem to leak a LOT of oil) and rebuilds (getting the valve-train right seems particularly problematic)...but it's the ticket to getting a good price when you want to sell.

Great thread! It's all about the due-diligence...although with you I get the idea that it's not ALL about that, it's equally about getting a good deal.

Wishing you the best of luck...will be following this thread to see how it works out for you!

Cheers!

Dugly

[PSB]

Originally Posted by YerDugliness

GT11, in that respect I would suggest that you add an issue to your "must have" list...the engine really SHOULD be an FE. As you well know, there were two different body styles (not counting the Daytona Cobras.....have you considered one of those?), the "289" body style and the "427" body style. From the items in which you have expressed interest, it appears you are in the market for one of the 427 body style replicas.

I totally disagree. Watch Cobra Country - SPFs and Backdrafts sell very quickly and hold their value and it's extremely rare to see either with a FE. I sold my Hunter with a fuel injected SBF and auto transmission on CC in less than a week for my initial asking price.

[GT11]

Wow, I am away from the computer for a few hours and the forum blows up!

To give a little more background on what I must have or want, the list is short. I want a 427SC, IRS, Blue w/ white stripes and would prefer a 427FE. I want to be able to trust the build so that is why I want a car that is built by a manufacturer. At 6'3", I also need to fit in the car.

I know the Cobra won't drive like my Mercedes or be as reliable (but it can't be worse than the Maserati I owned); I won't put 20,000 miles per year on it (I only put 5K in 18 months on my Wrangler JK) and I am pretty realistic here. I think the Cobra is one of the most pleasing to the eye cars you can buy.

As I look to buy my next toy, I struggle with it because not many cars excite me anymore. The Cobra was one I liked for a long time. I haven't spent much time in a Cobra and I may hate it. But if I hate it, I sell it and get something else. I will be as excited to look at it as I am to drive it.

A lot of you are very serious about your Cobras, which is great. It is great to have that passion but I am not that passionate about the Cobra (or most cars anymore). At the end of the day, it is a toy. Not only is it a toy, but it is a replica (a very expensive replica, too). The replica market came about when very desirable cars were out of reach of most and this was an affordable way for someone to somewhat experience a work of art that they couldn't own otherwise. Now we have entered an escalating arms race in the replica market where prices are going through the roof. Some may even call it a bubble.

Will a new BDR at $60K be as great as used SPF at $60K? To me it doesn't matter. I just want this work of art to grace my garage for a while. If I really cared about which one was truly better, I would buy the real thing (which may not really be better). I can afford it even though it would be short lived because my wife would probably kill me!

At the end of the day, I started documenting my search to develop a relationship with guys that like this awesome car, knowing that under the hood there are a lot of warts. I also value all of the feedback that you give because it helps my learning curve. I would probably be as happy with a FFR as the BDR or SPF and I may change at some point and go that route. Right now I am having fun getting to know you guys and I am enjoying the chase.

[PSB]

Originally Posted by GT11

Wow, I am away from the computer for a few hours and the forum blows up!

To give a little more background on what I must have or want, the list is short. I want a 427SC, IRS, Blue w/ white stripes and would prefer a 427FE. I want to be able to trust the build so that is why I want a car that is built by a manufacturer. At 6'3", I also need to fit in the car.

Sorry, but you might as well buy something else on your list, because you're not going to meet that list of requirements for $40K. You're going to have a difficult time meeting those requirements for $75K.

[RodKnock]

Originally Posted by PSB

Sorry, but you might as well buy something else on your list, because you're not going to meet that list of requirements for $40K. You're going to have a difficult time meeting those requirements for $75K.

Eh you never know. GT11 might be able to fleece some old guy of his Cobra. Early signs of dementia can be difficult to diagnose. Just ask Patrick, although he may not remember.

[patrickt]

Originally Posted by RodKnock

ust ask Patrick, although he may not remember.

I'm just hoping they'll take us to the park this weekend so we can see the ducks....

[YerDugliness]

Originally Posted by PSB

I totally disagree. Watch Cobra Country - SPFs and Backdrafts sell very quickly and hold their value and it's extremely rare to see either with a FE. I sold my Hunter with a fuel injected SBF and auto transmission on CC in less than a week for my initial asking price.

IMHO, you were lucky, although I am sure that your Hunter was worth the price they paid you, they are very nice cars.

In general, though, I stand by my comments regarding the FE engine enhancing the possibility of getting a car sold and getting the asking price. Those who want a real REPLICA will want the FE in the Big Block body style because it is what came from the factory...no small blocks were ever sold by Shelby in the 427 body style to my knowledge. I know that in my case when the hood is opened that discriminating buyer who is looking for the car he really wanted as a younger man (yes, I agree with the previous comments that when those of us who were "younger men" at the time the original Shelbys were being built in the early-to-mid 1960's are gone the market for our replicas will soften considerably) will not be impressed with my SBF, as nice as it is...it just isn't going to do it for him. The only reason it "did it" for me was the price I paid for a car I could drove home....it was WELL under $20K. My daughter paid more for her new Honda Civic than I paid for my Cobra replica. I looked long and hard for a 289 body style with the small block engine in my price range, but alas it was not to be, so in the end I accepted the body style I did not want just to get into an affordable car. I view that attitude as being in a "minority", because as GT11 says these are TOYS (although every day I can drive mine to work, I do so) and expensive toys, at that.

For someone who enjoys the buying and selling of this sort of toy, which may very well be GT11 given the cars he's already said he's owned, the search for that car that really stirs the soul is part of the passion and for MOST (notice I did not say "All") of those with enough disposable income to pay cash for one of our TOYS the impetus is to get the toy they wanted as "younger men"...ergo, they will want something that is as close to what Shelby was selling back then as possible.

Having said that, though, if GT11 really can afford to buy the "real thing", then he doesn't really need to settle for a Replica that may very well deteriorate in value, or may be lucky to hold their value...IMHO he needs to buy one of the "real thing" originals and enjoy the ride in the Jeep to the bank when he sells it for a huge profit!

Me...I'm certainly happy puttering around town in my replica, since as a retired teacher I'll NEVER be able to afford an original. The only reason I might sell mine is to help finance a Daytona or a GT40 (although I might consider an ERA 289FIA replica...I mean after all, it's what I have wanted for 50 years)! I think I really need a 4-season TOY and the SPF Daytona has roll-up windows, for goodness sake, so with A/C and heat it's a 4-season car!

Cheers!

Dugly